Chinese leading new energy vehicle maker BYD (002594.SZ; 01211.HK)'s microelectronics device unit signed an agreement with Shanghai-based Advanced Semiconductor Manufacturing Co., Ltd on Wednesday, vowing to step up localization of production of insulated gate bipolar transistors (IGBT).
The two sides have co-developed two products based on the 1,200V platform and put them into application on cars.
China has become the world's largest consumer of IGBT and has to import a large amount of high-power IGBT devices every year.
To date, China's annual demand for the commodity has exceeded 7.5 billion yuan, with annual growth at over 30 percent.
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